Blockchain Capital becomes latest member of Facebook-backed Libra group

September 18, 2020.
Blockchain Capital, a venture capital firm focusing on crypto technologies, has joined forces with the Facebook-backed Libra Association as the group continues working to develop and manage a new digital currency.

ICBC launches first virtual Visa credit card in Hong Kong

September 17, 2020.
Industrial and Commercial Bank of China said Thursday that it has launched the first Visa virtual credit card in Hong Kong in response to the increasing popularity of cardless payment via mobile phones.

Visa rolls out online checkout service in Canada as e-commerce surges

Last modified September 15, 2020. Published September 15, 2020.
Visa said on Tuesday that it is bringing its online checkout service Click to Pay to Canada, which will let shoppers make purchases without needing to repeatedly manually give their passwords and account numbers, citing a recent surge in domestic e-commerce.

Uruguayan payments company dLocal valued at $1.2B for investment led by General Atlantic

September 15, 2020.
Payments company dLocal became one of the best-funded fintech companies in Latin America on Tuesday, thanks to a new $200 million investment led by U.S. growth equity firm General Atlantic.

Klarna becomes highest-valued fintech in Europe after $650 million funding round

Last modified September 15, 2020. Published September 15, 2020.
Klarna Bank, a Stockholm-based online payments and shopping service, says that it has become the highest-valued fintech in Europe at a post-money valuation of $10.65 million after raising $650 million in an equity funding round.

Tangerine to become Canada’s first digital bank with Visa-linked checking accounts

September 14, 2020.
Bank of Nova Scotia subsidiary Tangerine Bank said Monday that later this year, it will become the first fully digital bank in Canada to offer Visa Debit.

Brazil’s Banco Bradesco jumps into growing digital-wallet market

September 14, 2020.
Banco Bradesco, Brazil’s fourth-largest bank, said Monday that it has entered the country’s growing digital-wallet market with a new product called BITZ.

McKinsey finds US financial sector falls far short of racial equality in C-suite

Last modified September 11, 2020. Published September 11, 2020.
People of color remain poorly represented in upper ranks of U.S. financial firms, despite roughly reflecting the population in entry-level roles, indicating that white employees are much more likely to be promoted, McKinsey & Company said.

French central banker calls for coordinated European strategy on digital currency

September 11, 2020.
The governor of the Bank of France is urging central banks across Europe to embrace digital payments and create a cohesive, consistent strategy in order to strengthen the European financial sector and maintain the balance between central and commercial banks.

US fintech Change Financial to buy Wirecard Australia, New Zealand units

Last modified September 11, 2020. Published September 11, 2020.
Change Financial, a U.S. fintech listed on the Australian Securities Exchange, will buy Wirecard’s assets in Australia and New Zealand through a deal intended to boost profits and global reach.

Visa, PayPal expand collaboration to bring Instant Transfer service to new markets

September 10, 2020.
Visa and PayPal said Thursday they have plans to expand the ability for consumers and small business owners to access their funds directly in real time through the PayPal Instant Transfer service and the Visa Direct platform as the pandemic accelerates the shift toward digital payments.

UK fintech B2B Payment Solutions approved for digital banking in Europe

September 9, 2020.
A new digital payment and banking service will soon begin operations in Europe and add to the growing array of tech-based financial platforms around the world after recent approval from the U.K.’s Financial Conduct Authority.

Fintech Cred joins Visa accelerator program in push for global expansion

September 8, 2020.
Cred, a crypto asset lending and borrowing platform, has joined Visa’s fintech-focused accelerator program, a move which gives the startup access to tools from the world’s largest payment network.

Visa accused of being a ‘corporate bully’ by Australian fintech amid EU probe: The Times

September 8, 2020.
Visa’s rules for fintechs may leave payments vulnerable to illegal activity and inhibit competition from smaller financial technology startups, according to U.K. newspaper The Times.

Berkshire Hathaway slashes stake in troubled Wells Fargo

Last modified September 8, 2020. Published September 8, 2020.
Berkshire Hathaway cut its investment in Wells Fargo by more than 40% on Friday, selling more than 100 million shares in the bank in the latest of several major investment moves by Warren Buffett’s conglomerate.

UK digital bank Revolut expands to Japan

Last modified September 8, 2020. Published September 8, 2020.
Digital bank Revolut, which describes itself as “the world’s first truly global financial superapp,” took a step toward becoming truly global this week with the launch of a banking app in Japan.

Digital bank Revolut expands crypto exchange services to Australia

September 3, 2020.
U.K.-based fintech Revolut expanded the reach of its cryptocurrency exchange services to Australia, allowing users to easily trade and transfer funds in popular digital currencies, including Bitcoin and Ethereum.

Truist pledges to increase minority representation in senior staff to 15%

Last modified September 3, 2020. Published September 3, 2020.
Truist Financial said it will increase the percentage of racial and ethnic minorities in its senior leadership ranks from 12% to 15% over the next three years, marking the latest pledge by a financial services company to improve diversity.

WhatsApp Pay gets back on track in Brazil with pending approval

September 3, 2020.
The Central Bank of Brazil is soon expected to approve and resume WhatsApp Pay in Brazil, more than two months after it was first rolled out and suspended in order to preserve industry competition.

Norway’s Vipps partners with Visa on European mobile wallet platform

September 3, 2020.
Norwegian fintech Vipps said Thursday that it inked a deal with credit card issuer Visa to develop a mobile wallet service as part of its European expansion, in order to meet the rising demand for digital payment platforms.